Chipotle is raising its U.S. prices to offset inflation and to compensate for a promise to increase portion sizes. Chipotle’s chief corporate affairs officer confirmed Friday that the Mexican restaurant chain was implementing a 2% price increase nationally. She says it's the company's first such increase in more than a year.
FILE - The Chipotle Mexican Grill logo is seen on a storefront, Oct. 14, 2022, in Boston. Chipotle’s chief corporate affairs officer, Laurie Schalow, confirmed Friday that the Mexican restaurant chain was implementing a 2% price increase nationally. Schalow said it’s the first time the California-based company has raised its prices in more than a year.
Chipotle revealed the price increase after an analyst report released earlier this week by investment bank Truist Securities noted a 2% price increase at approximately 20% of the chain’s 3,500 U.S. stores. Truist, which raised its price target for Chipotle’s shares, also reported that customer traffic at the chain’s restaurants accelerated in November.in June after two U.S. Department of Agriculture employees were assaulted and temporarily held by assailants in the Mexican state of Michoacan.
Chipotle also cited the cost of ensuring it was providing “consistent and generous portions” to its customers. Former Chairman and CEORestaurant price inflation has aggravated U.S. consumers. The price of food eaten away from home rose 30% between October 2019 and October 2024, according to government figures. The price of food eaten at home rose 27% in that same period.said it was seeing more customers eat at home instead of getting fast food because of price increases.
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